Mumbai, Oct. 15 -- The key equity benchmarks extended gains in afternoon trade, supported by a stronger rupee, easing crude oil prices and a pullback in US Treasury yields. The Nifty traded above the 23,000 mark, with buying interest extending across major sectors.

Oil and gas shares were in demand, led by Reliance Industries, which gained after its digital services arm Jio Platforms filed its draft prospectus for a planned initial public offering. IT stocks also supported the market. However, global sentiment remained cautious after stronger-than-expected US inflation data revived concerns about the Federal Reserve's interest-rate outlook.

At 13:22 IST, the S&P BSE Sensex surged 1,457.50 points or 2% to 74,239.39. The Nifty 50 index ju...